Nifty has taken a breather after a steep rally made during the last week. Bank Nifty has kicked of the week with a good gap up opening, but surrendered all its gain and hovering near Friday close.
Last month high of 11694 and current month high 11714 are the two double tops made and a close above this is essential to start the next rally. 11771 is the most critical number which should be crossed which enhances the possibility of moving towards 12103 and above.
No shorts if nifty closes above 11771.
Nifty likely to test 11491 today which is a good support. It is prudent to go long at this level. If nifty closes above 11652 today it is considered to be positive for a good opening for Muhurat Trading day.
Bank nifty may test bottom of 28848 which could be best support and likely to be held.
Good Luck!
No comments:
Post a Comment
Note: only a member of this blog may post a comment.